Tuesday, 12 March 2013

Levy risks housing recovery

Builders and property developers are said to be concerned that a new levy which must be paid to councils for winning approval for construction projects will impact on a housebuilding recovery. The property industry fears that local authorities will pitch the levy too high and make it unprofitable to embark on new housing schemes. It is noted that the Home Builders Federation (HBF) has appointed Savills to liaise with councils to avoid “battles” over the size of the levy. Meanwhile, leading housebuilders, including Barratt Developments and Taylor Wimpey, have set aside £7m for a “fighting fund” which will be managed by the HBF.

The Daily Telegraph, Page: 10

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